[Press release] “BioPlus, Expectation for terraced growth due to business expansion”

By 2021년 December 3일December 6th, 2021No Comments

Published date: December 3rd, 2021

| Analysis of Kiwoom Securities.

Kiwoom Securities said on the 3rd that BioPlus is expected to grow stepwise by expanding its existing business and promoting new businesses. Investment opinions and target stock prices were not presented.

BioPlus is a company specializing in hyaluronic acid (HA) fillers that were listed on the KOSDAQ market in September. As of the third quarter of this year, HA fillers accounted for 85% of total sales.

The strength of the company’s flagship HA filler is the “DVS” crosslinking agent. Crosslinking agents are substances that connect HA molecules. It is said that it has implemented stable and high viscoelasticity by using DVS, not BDDE, which was mainly used by existing companies.

The expansion of existing projects and the promotion of new projects are expected to have a positive impact. Researcher Heo Hye-min said, “We are targeting new business areas that will affect our business portfolio from three years later along with existing businesses,” and added, “We expect terraced growth through this.”

In particular, it was considered that “MDM Tech” has great scalability. MDM Tech is a platform technology of BioPlus that is used to produce HA-derived products. It strengthens the crosslinking strength between HA molecules and applies it to HA fillers to increase viscoelasticity and cohesion. The company is promoting business diversification by using MDM Tech to develop biological breasts and biological cartilage replacements.

In October, it also secured half-life augmented platform technology for protein drugs through the acquisition of a stake in Ubiprotein. Through this, it plans to develop continuous obesity and diabetes treatments.

He said to be careful about potential sales (overhang) problems. About 420,000 shares of protection deposit will be lifted on the 27th and 4.6 million shares on March 27 next year.

Researcher Heo said, “On October 27, about 1.9 million shares of protected Jesus were released, but the stock price fell about 0.2%, which was not significantly affected.”

Photo provided = Kiwoom Securities.

Reporter Lee Dohee.


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